This is just a quick note for readers of my blog who may not have seen the discussion on Small Caps Live since this morning.

In today’s update Mpac say:

The Group had an improved H2 22 over H1 22 and expects to report full year revenue and underlying profit before tax in line with market expectations.

In my previous article I detailed my research into Mpac’s battery cell manufacturing prospects, referring in my conclusion to “interim developments that could be announced at any time“.

On Wednesday (29/6/2022) FREYR announced that they had sanctioned construction of their first gigafactory. This will now be called “Giga Arctic”, a vast improvement on the old name of “Combined Gigafactories 1&2”.

In my previous article I looked at Mpac from the perspective of information published by them, including a run down of all the things that could go wrong with their contract with FREYR. Here I reveal the fruits of further research into that contract.

Sources of information

The other parties to the contract are FREYR, but also indirectly 24M from whom FREYR licence their technology. And it appears that 24M were instrumental in Mpac getting the contract – from the original announcement:

The purpose of this article is to provide a catch-up of what has been happening at packaging machinery supplier Mpac. You can find all my past articles on it here, although I haven’t written about it for a while, for reasons explained here.

I’m going to concentrate on four updates as illustrative of what is going on at Mpac, and which may also cast some light on my investment process with read-across to other companies. You will find links to the announcements in the headings. Since writing this article I have done further research on the FREYR battery contract and this will be the subject of another piece to be published imminently.